Which professional services sectors will remain resilient in 2024?
With growth forecasts and client confidence under pressure, a clear-eyed view of how individual sectors are set to perform could prove critical for investment decision making in the year ahead.
We explore Source’s latest market sizing data on six particularly interesting professional services markets and consider the factors shaping their performance and the implications for firms.
Growth in the global professional services market came under pressure in 2023 and that looks set to continue into 2024. Performance looks sluggish early in 2024, with any recovery earmarked for later in the year. Our annual forecast is for around 6-7% growth in both 2024 and 2025. However, the consulting market, which includes only part of the technology services sector, is likely to grow by 1-2 percentage points less than the broader professional services market.
But what will this look like on a sector-by-sector basis? And are there any opportunities for above-average market growth?
Please note that at this point in time, all 2023 figures are provisional and may change.